Ex-PM Tsipras Asserts Yanis Varoufakis Proved ‘Inappropriate’ for the role of Greek Treasury Chief During Debt Crisis
In a freshly published autobiography, called Ithaki, the ex- premier Alexis Tsipras does not hold back as he revisits that chaotic era during Greece's financial crisis.
A Controversial Appointment
In the ex-PM's recollections, Tsipras selected that unorthodox economist Varoufakis as his treasury head primarily because of his worldwide fame and Varoufakis's highly compelling abilities when it came to speaker.
“He was, actually, more like a personality rather than an economic expert,” wrote the 51-year-old.
Clashing Priorities
The former leader alleges that Varoufakis had a personal agenda which involved promoting Varoufakis's books and testing out his own game theories using the nation rather than truly advocating the country's economic stability.
He explained how those discussions to avoid insolvency became “not just a way of achieving a better deal for Greece. They were a test, an historic opportunity to prove the validity of Varoufakis's ideas.”
High-Stakes Negotiations
Amid tense discussions, the country came perilously on the brink of exiting the eurozone.
At stake lay both Greece's future and the punishing austerity policies demanded in return for financial aid by foreign lenders.
Unsuccessful Alternatives
Efforts to secure funds elsewhere, including an urgent plea to Russia to purchase Greek bonds, fell on stony ground.
Assisting the indebted country was equivalent to tossing cash into the garbage, Putin reportedly informed Tsipras during their meeting.
Referendum and U-Turn
In July 2015, those excoriating conditions were put to a popular referendum, an action that plunged Europe into deeper existential crisis.
Even though the vote was carried resoundingly by those against austerity, the prime minister was forced to ignore the result then agree to a rescue deal from creditors that turned out to be more severe.
Final Straw
Tsipras claimed that he started questioning his finance minister relatively soon.
“Varoufakis was the face of negotiation, the man who drew media attention, who appeared on the front pages of publications globally … he gave the impression he was enjoying the spotlight.”
When the minister outlined a backup strategy that included establishing a secondary currency as well as distributing vouchers to retirees, the leader knew it was the end questioning Varoufakis: “Can you be serious?”
Lasting Criticism
In the memoir, the author asserts how his former ally demonstrated himself to be “unfit for a deal demanding complex and delicate management.”
Tsipras also wrote how Varoufakis's confrontational approach made him increasingly isolated with colleagues, endangered the country, and assisted hardliners who were advocating a Greek exit from the euro.
This account of history has been met with anger along with stunned disbelief among certain groups, whereas Varoufakis has maintained a conspicuous quiet on the matter.